During the Ordinary Plenary No. 148, the deputies of the Legislative Assembly approved with 69 votes in favor, the reforms to the Income Tax Law to exempt investors and nationals from paying this tax.
“We are freeing El Salvador from many obstacles it had to receive foreign direct investment. Many nations fight to be more attractive, in order to receive international capital that is transformed into jobs and revitalization of the economy,” highlighted the Cyan Caucus deputy, William Soriano, regarding the reforms.
Upon entry into force of the amendment, both national and foreign investors, and the Salvadoran diaspora, will not pay said tax when entering money into El Salvador, that is, family remittances, working capital or other financial return generated outside the country, which It would mean that the rate would drop from 30% to 0% on the total amount.
#Plenaria148✍🏻 “We are freeing El Salvador from many obstacles it had to receive foreign direct investment. Many nations struggle to be more attractive, in order to receive international capital that is transformed into jobs and revitalization of the economy,” deputy… pic.twitter.com/S49LIIJsYb
— Legislative Assembly 🇸🇻 (@AsambleaSV) March 12, 2024
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